US senators are in a marathon vote-a-rama over amendments to Donald Trump’s massive tax and spending bill, with one lawmaker bidding to include tax cuts for crypto.
Senate News
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Only five US senators out of the 11 typically on the digital assets subcommittee were available to ask questions about a potential market structure bill.
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The US Senate Banking Committee’s digital assets subcommittee will hear testimony from former CFTC Chair Rostin Behnam and lawyers at Coinbase and Multicoin Capital.
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The proposed bill from Senator Adam Schiff followed similar legislation in the House of Representatives from Maxine Waters in response to the president's memecoin dinner.
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Senator Lummis’ RISE Act may be a good start, but does it ask too much of doctors, lawyers and engineers — while shielding AI developers?
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The GENIUS Act is one step closer to becoming law in a development that may make stablecoin issuers key players in the US economy.
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The bill passed without amendments to address Donald Trump’s connections to World Liberty Financial’s stablecoin, which many Democrats had been calling for.
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Though concerns about the Trump family’s connections to World Liberty Financial’s stablecoin shadowed debate on the GENIUS Act, the bill is closer to passing the Senate.
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Lawmakers asked Mark Zuckerberg whether Meta had had any influence on the GENIUS stablecoin bill and its plans to potentially issue its own digital currency.
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Senators questioned Brian Quintenz on prediction markets, his experiences dealing with debanking, and how he would potentially handle an entirely Republican-staffed CFTC.
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The market capitalization for stablecoins has risen 90% since Jan. 4, 2024, making stablecoins arguably crypto’s first mainstream use case.
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A group of crypto advocacy groups have urged lawmakers to include a bill protecting software devs from being labelled as money transmitters included in a crypto market structure bill.
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Wyoming Senator Cynthia Lummis was one of the few voices in Congress tying Michelle Bowman’s confirmation to a win for cryptocurrency policies.
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Roughly four months since his nomination and amid announced departures at the CFTC, Brian Quintenz’s nomination to head the financial regulator is moving forward.
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The GENIUS Act could soon be up for Senate debate and crypto lobbyists urged senators to quickly pass the bill as amendments on credit card fees threaten to delay the bill.
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